Former Eucalyptus executive Dan Cable and an early Eucalyptus investor, Alex Debney, raised $1.5 million for an exciting new start-up called Early Bird. This is an example of the wonder of the start-up ecosystem – perfected by Silicon Valley, where successful founders and early employees take their outsized windfalls and make risky investments in the next generation of start-ups.It’s not without irony that this exciting new start-up, which will potentially create hundreds of jobs, has been incubated out of another of Australia’s most successful businesses, Eucalyptus. Eucalyptus itself had its roots in another brilliant Australian story, Koala, which was founded by childhood friends Dany Milham and Mitch Taylor (and which recently listed on the ASX for almost $300 million).Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Exited founder should spare us the defence of dishonest CGT changes
The decision to remove the straightforward 50 per cent discount will be a dagger through the heart of Australia’s nascent start-up sector.
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